Global Permanent Magnet Market: Latest Innovations, Drivers and Industry Key Events 2020 – 2027

GMI Research market report focuses on providing an overview of the industry through detailed market segmentation. The report has information related to the overview and scope of the market followed by the key drivers, restraints, and emerging trends in the market. This report is especially designed to include both qualitative and quantitative aspects of the industry in each region and country included in the study.

List of Significant Manufacturers in the Permanent Magnet Market include:

Hitachi Metals, Ltd.
Lynas Corporation Ltd.
Arnold Magnetic Technologies
TDK Corporation
Shin-etsu Chemical Co., Ltd.
Electron Energy Corporation
Bunting Magnetics Co.
Daido Steel Co., Ltd.
Tengam Engineering, Inc.
Adams Magnetic Products Co., Inc.

Permanent Magnet Market Drivers and Restraints:

The increasing demand for permanent magnets in a wide range of industries, including general industrial, automotive, medical technology, consumer electronics, aerospace & defense, and environment & energy, among other industries, is one of the factors contributing to the growth of the market. The growing demand for the permanent magnet market in the consumer electronics industry due to its beneficial properties, including high magnetic stability, lightweight, repulsion, inexpensiveness, and other features, is surging the growth of the market. Rapid growth in the global consumer electronics industry, along with the use of permanent magnets in several devices, including computers, laptops, televisions, music systems, and others, are further bolstering the market growth.

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The rising disposable income levels, rapid economic development, and the increasing industries are certain factors boosting the demand of the global permanent magnet market. The rising demand of permanent magnets for the manufacturing of wind generators, automotive vehicles, medical devices, and aerospace vehicles, is one of the major factors fuelling the market growth. The use of permanent magnets in batteries, electric motor, and internal combustion engines in the production of hybrid electric vehicles, followed by government inclination towards the adoption of energy-efficient vehicles, is projected to offer high growth opportunities to the global permanent magnet market in the upcoming years. On the other hand, the high raw material prices for rare earth magnets will hinder the permanent magnets market. The emergence of COVID 19 and China is one of the major markets for rare earth magnet is anticipated to hamper the market growth of permanent magnet in the upcoming years.

Segmentation: Permanent Magnet Market

Permanent Magnet Market: By Type

Neodymium Iron Boron Magnet
Ferrite Magnet
Samarium Cobalt Magnet
Alnico Magnet
Others

Permanent Magnet Market: By End-Use Industry

Consumer Electronics
General Industrial
Automotive
Medical Technology
Environment & Energy
Aerospace & Defence
Others

Permanent Magnet Market: By Region

North America

United States of America
Canada

Asia Pacific

China
Japan
India
Rest of APAC

Europe

United Kingdom
Germany
France
Spain
Rest of Europe

Brazil
South Africa
Saudi Arabia
UAE
Rest of the world (remaining countries of the LAMEA region)

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